Business
Kings Bay Gold announces a $200,000 Private Placement
Kings Bay Gold announces a $200,000 Private Placement
About this update from Lion Rock Resources Inc
[{"type":"text","content":"\nKings Bay Gold announces a $200,000 Private Placement\n\n\n Nov. 19, 2009 (TheNewswire.ca) -- King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce, subject to regulatory approval, a non-brokered private placement of $200,000 which is anticipated to close on November 23rd, 2009. The Units comprising this non-brokered private placement will be offered to subscribers resident in Ontario. This non-brokered private placement will be comprised of up to 2,000,000 Units at price of $0.10 per Unit (the \"Flow-Through Subscription Price\") for gross proceeds of up to $200,000.Each Unit is comprised of one flow-through common share and one non-flow-through common share purchase warrant that can be exercised to purchase one common share upon payment $0.13 for a period of 24 months following the date of issuance. The shares issued in connection with this non-brokered private placement will be subject to a minimum hold period of four-months plus one day.King's Bay Gold proposes to utilize the flow-through proceeds from the subscription for the Units of this non-brokered private placement for the ongoing exploration and development of its joint-ventured Bobjo Mine rare earths / gold project and its other projects.About Kings Bay GoldKing's Bay Gold is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. The Corporation is a very active Canadian mineral exploration company with mineral projects located in Canada's main gold camp - Red Lake, ON. Strategic properties include - (1) The Headway, a property located in Red Lake, ON (exploring for gold); (2) The Bobjo Mine, a past producing gold mine (exploring for gold and rare earths elements); (3) The Fort Frances property (exploring for PGEs and diamonds); and (4) the newly acquired Raleigh Lake property (exploring for rare earth elements).KBG Shares Outstanding: 52,756,903King's Bay Gold CorporationJohn ArchibaldPresident & CEO(204) [email protected] news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's (TSXV:KBG) business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation...